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sole proprietorship Ans: A business that is owned and operated by one person. privately held company Ans: A company in which ownership is restricted to specified individuals. Contrast with publicly held company. partnership Ans: A type of company that is owned and operated by two or more people (the partners) who jointly earn all company profits and are responsible for all company debts. corporation Ans: A legal entity, separate from its owners, that is created by the authority of a...

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exclusion - insurance policy provision describing circumstances the insurer will pay policy should insurer die during certain activity Policy rider - amendment that becomes part of contract and either expands or limits benefits BRE- Business Rule Engines - software that automates the decision making process; "If...then" Automated Workflow Sysem - tracking receipt that follows transaction thru completion

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